Mizuho, MUFG, and SMBC target beginning commercial live transactions of the joint yen stablecoin during fiscal year 2026, which runs from April 2026 to March 2027.

From the articleJapan Megabanks Test First Joint Yen Stablecoin: Where Does XRP Fit? - U.TodayAlso in Japan's megabank trio completes joint stablecoin payment test, Japan’s Megabanks Finish Yen Stablecoin Pilot and Eye Real Transactions, Mizuho, MUFG and SMBC Complete Joint Yen Stablecoin Pilot, Japan’s Top Three Banks Confirm Feasibility of Joint Yen Stablecoin Issuance